Will Russian business buy WCI Steel?

Charles Bradford, an analyst with Soleil Securities in New York, said MMK and other Russian steel companies have been looking abroad for new business opportunities.

If MMK decides to go shopping in Ohio, the company most likely to draw its interest is WCI Steel, Bradford said. WCI emerged from bankruptcy last year and last week warned of a larger-than-expected second quarter loss and announced the abrupt departure of its chief executive.

Tim Roberts, a WCI spokesman, wouldn’t comment on the chances of WCI remaining independent. “This is speculation by an industry analyst. We don’t comment on speculation,” he said.